A Casino is a gambling establishment where a variety of games of chance are played and money is won. Often casinos are combined with hotels, restaurants, shopping centers and other entertainment venues. Some countries regulate casinos, while others ban them or restrict their operations. There have also been a number of high-profile casino-related incidents that have raised questions about the safety and security of casino patrons.
Gambling probably predates recorded history, with primitive protodice and carved six-sided dice found in many archaeological sites. But the modern concept of a casino as a place where a wide variety of gambling activities could be found under one roof did not emerge until 1638, when the government in Venice approved the opening of the Ridotto, the world’s first government-sanctioned casino. Although only aristocrats were allowed to play there, it is considered the birthplace of the casino as a public institution.
The modern casino is much like an indoor amusement park for adults, with the vast majority of its entertainment and profits coming from games of chance. Slot machines, blackjack, roulette, craps and keno provide the billions of dollars in profits that casinos rake in each year. While musical shows, lighted fountains and shopping areas help draw in the crowds, the casinos would not exist without these games of chance.
The casino business is built on the idea that every game has a built in mathematical advantage for the house. Known as the “house edge” or “vig,” this is the casino’s virtual assurance of profit. It can be as small as two percent, but it is enough to fund the extravagant inducements that casinos offer big bettors – free spectacular entertainment, luxurious hotel accommodations and reduced-fare transportation.